BARD token drops 35% after major exchange debut
On September 18, Bitcoin DeFi protocol Lombard launched trading of its BARD token on major crypto exchanges including Binance, Bitget, MEXC, and others. The project demonstrated strong community interest with sales reaching nearly $560 million at the time of writing. However, during trading, BARD’s price dropped by more than 35%, struggling to hold the $1 mark.
Lombard is best known as the developer of the liquid Bitcoin staking token LBTC, which has a total value locked (TVL) of around $1.5 billion. LBTC is integrated with protocols such as Aave, EtherFi, and Pendle, and secured by a consortium of 14 companies including Galaxy, Wintermute, and OKX.
Founded in 2024, Lombard raised $17 million in seed funding led by Polychain Capital with participation from Franklin Templeton, Bybit, YZi Labs, and others. The project’s main goal is to channel Bitcoin’s idle liquidity into the DeFi sector. The launch of BARD serves this purpose by enabling governance, security, community rewards, and funding for new ecosystem components that may evolve into standalone products.
In late August, Lombard raised $6.75 million on Buidlpad through the sale of 1.5% of the total BARD supply (15 million tokens) at a price below $0.50. Priority access was granted to LBTC holders, Lombard users, and participants in the project’s promotional campaign.
Early holders lock in profits
Just weeks later, BARD debuted on top exchanges with 225 million tokens (22.5% of total supply), including 10 million previously distributed or sold during the presale. According to CoinMarketCap, the 35% drop in price after listing aligns with the typical scenario of projects with 100% token unlock at TGE, which on average see a 30–50% decline post-launch.
BARD price dynamics over the past 24 hours. Source: CoinMarketCap
Analysts suggest BARD could rebound toward its initial $1.47 launch price in the coming days. However, Lombard’s long-term prospects depend on the growth of its current products — Lombard Ledger and Lombard SDK — and the rollout of new offerings. Revenues from transaction fees and subscription services are expected to provide ongoing support for the project’s native token.
As we wrote, SEC approves generic listing standards for spot commodity and crypto ETPs
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